Use the data from Problem 6-7A and do the question assuming Fresh Express Company uses a periodic inventory costing system.

Problem 6-7A
During 2017, Fresh Express Company sold 2,500 units of its product on September 20 and 3,000 units on December 22, all at a price of $90 per unit. Incurring operating expenses of $14 per unit sold, it began the year with and made successive purchases of the product as follows:

a. FIFO 

b. Moving weighted average cost. 

Round all unit costs to two decimal places.

Transcribed Image Text:

January 1 beginning inventory.. Purchases: February 20.. May 16 .. December 11... Total 600 units $35 per unit 1,500 units $37 per unit $41 per unit $42 per unit 700 units 3,300 units 6,100 units